It looks like a default is imenent(sp), being that it is only in my wifes name can this affect my credit ? My name is not on any of the paperwork.
2006-08-22 07:14:13 · 4 answers · asked by dogboy 1 in Business & Finance ➔ Renting & Real Estate
If your name is not on the loans it will not affect your credit. It will however affect you in the future if you need to combine incomes to make credit purchases.
2006-08-22 07:22:33 · answer #1 · answered by Gail W 2 · 0⤊ 0⤋
It may affect your credit, and your marriage
But on the credit side, if you have shared in the benefits, and or obligations, the financial institutions will often review the past shared liabilities and connect the dots so to speak.
On the current situation, you may want to talk with the financial institution and discuss your options, do not go in hiding, as most banks etc, much rather work with you and try to restructure things than start forclosure proceedings
Good Luck
2006-08-22 07:25:34 · answer #2 · answered by peterpfann 3 · 0⤊ 0⤋
If you live in a Lien Theory state it will affect it. If you live in a Torrance theory state it will not. Unless of course if you file jointly then your stuck or you might want to consider getting back with your spouse and fixing the problem or buy her interest or go and look for Bin Landen there is a huge reward for his capture
2006-08-22 07:31:08 · answer #3 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
no, it will just effect her credit since her name is only on the ppwrk.
2006-08-22 07:21:55 · answer #4 · answered by littlebettycrocker 4 · 0⤊ 0⤋